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32 posts categorized "Rochester Medical Corp."

November 14, 2013

Rochester Medical shareholders OK acquisition

Rochester Medical Corp., Stewartville's largest employer, became a  subsidiary of New Jersey-based C.R. Bard at 8 a.m. today following Wednesday's overwhelmingly positive shareholder vote.

Votes representing 8.4 million shares were counted in a Minneapolis board room of the law firm Dorsey & Whitney. The $262 million deal was approved by a vote of 8.1 million in favor to 179,156 against. Another 12,054 abstained. Rochester Medical had 12.3 million outstanding shares that were eligible to vote.

Rochester Medical's Chief Financial Officer David Jonas said the vote tally took about 30 minutes. About 20 people attended the voted.

Shares of Rochester Medical were trading at $20 at the close of the market on Wednesday.

Representatives of C.R. Bard are scheduled to discuss their future plans at an all-employee meeting Friday morning at the catheter manufacturing facility. Rochester Medical has about 250 employees in Stewartville with a total of 400 worldwide.

While no specifics have been discussed about what will happen to the Stewartville facility or its employees, the president of Bard’s Medical Division made encouraging comments to staff in September.

"We are making this merger because we really believe you have got a ton to bring to us. These are additive, these two companies. There is not a ton of overlap," said Peter Curry, according to documents filed with the  U.S. Securities and Exchange Commission.

This acquisition marks the end of the local ownership of the 25-year-old company co-founded and run by CEO Anthony Conway and his brother, Vice President Philip Conway. The CEO has previously said that he and his brother will remain "deeply involved in the transition … ensuring that our new products will get to market in a very timely fashion."

October 04, 2012

Stewartville co. to build $10M expansion, add 50 to 60 jobs

A Stewartville manufacturer says it will soon build a $10 million to $12 million complex and add 50 to 60 new jobs.

Jim Conway, CEO and president of catheter maker Rochester Medical Corp., says the 54,000-square-foot complex will include an automated production line, clean-room packaging facilities, offices and warehouse space.

The expansion is expected to increase production by about 1 million catheters, and the company anticipates adding 50 to 60 employees to its Stewartville work force of about 250. Rochester Medical has about 400 employees worldwide.

The new building will be near Rochester Medical's current facility on the hill above Pizza Ranch, overlooking U.S. 63. Conway says it will be built on a field long slated for expansion. Company officials are waiting for bids from contractors but hope to have the project under way this fall.

Rochester Medical updated its manufacturing lines this spring, which increased production by 50 percent.

The firm, which sells about two-thirds of its products outside of the United States, posted its best-ever earnings in May and a record $15.25 million in sales. It wrapped up its fourth quarter at the end of September, and the 2012 earnings are expected to be released by the end of this month.

The expansion is driven by a new project that is picking up speed.

"The main reason we want to get started right now is a new catheter technology that we are super excited about," Conway says. "We didn't know this was coming. This has come up in the past seven or eight months."

While he is keeping the technical details under wraps for now, this new development is described as "very significant," and Rochester Medical is anxious to get it to the market.

The company historically has focused on unique innovations vs. "me-too" products. This week it released a new type of male external catheter with a special adhesive that allows moisture to be wicked away through its silicone sheath. It's the first of its kind on the market.

"That's the only way we are able to compete with the multi-billion-dollar companies that are our competitors," Conway says.

He says Rochester Medical's unconventional approach to research and design has fueled its success. Instead of a separate R&D department, it uses small teams made up of people from all areas, like research, manufacturing, packaging and marketing, to work on projects. That approach brings a variety of viewpoints together to develop a new product and a path to take the concept to market.

April 08, 2011

Roch. Medical wraps up buying European firm

It is a done deal.

Stewartville's favorite silcone catheter maker, Rochester Medical, officially completed its $10.5 million acquistion a medical supplies company in the Netherlands this week.

Rochmedicalcatheter

Back in January, Rochester Medical announced a deal to buy a company called Laprolan B.V. from its parent firm of Fornix N.V. Shareholders of Fornix voted to approve that deal last week.

The acquisition fits with the international focus at Rochester Medical, which tallied about $42 million in sales last year.

The company exports the majority of the catheters it makes in Stewartville to European markets.

March 31, 2011

Rochester Medical gets green light

Stewartville's favorite silcone catheter maker, Rochester Medical, got a green light Wednesday for its $10.5 million purchase of a medical supplies company in the Netherlands.

RochmedicalcatheterBack in January, Rochester Medical announced an acquistion deal to buy a company called Laprolan B.V. from its parent firm of Fornix N.V.

Shareholders of Fornix voted to approve that deal this week. The sale is expected to close soon.

The acquisition fits with the international focus at Rochester Medical, which tallied about $42 million in sales last year.
The company exports the majority of the catheters it makes in Stewartville to European markets.

When asked if this addition could spur any expansion to the facilities in Stewartville,  Rochester Medical's CEO and president said back in January that it could eventual drive growth.

We will definitely will be expanding in Stewartville," Jim Conway said in January. "We'll need it. Just this quarter, we've expanded our domestic sales staff (based in the United States) from 12 people to 40."

January 14, 2011

Rochester Medical growing, buys $10.5M firm

Rochester Medical's $10.5 million purchase of a European company could lead to growth at its home facility in Stewartville.
To keep up with growing demand in Europe and elsewhere, the catheter maker will eventually need to expand manufacturing in Stewartville, said Anthony J. Conway, CEO and president. He offered no time frame.
Rochmedicalcatheter"We will definitely will be expanding in Stewartville," he said. "We'll need it. Just this quarter, we've expanded our domestic sales staff (based in the United States) from 12 people to 40."
Rochester Medical, which makes silicone catheters and other urological supplies, announced this week that it is buying Laprolan B.V., a medical supplies distributor, for $10.5 million. Laprolan is based in the Netherlands.
The sale is contingent on approval by the shareholders of Laprolan's owner Fornix N.V. It is expected to be approved by the end of the first quarter.
The acquisition fits with the international focus at Rochester Medical, which tallied about $42 million in sales last year.
The company exports the majority of the catheters it makes in Stewartville to European markets.

July 06, 2010

Fat Willy's revving up

This time around Bill Henderson is in the driver's seat as he gears up a new hot rod of a bar-and-grill in south Rochester.

Henderson, who has managed the Mayo Civic Center concessions for Canadian Honker owner Joe Powers for the past seven years, is cooking up a place of his own called Fat Willy's.

It's being put together in a commercial building across from the Wehrenberg Galaxy Theater in the Shoppes on Maine development along U.S. 63 South.  "This something I've always wanted to do," said Henderson, who is retired from Mayo Clinic and has worked with Powers since he opened the Honker in 1985.

With a hot-rod garage theme, the 3,500-square-foot Fat Willy's is expected to take off from the starting line in September. Look for the menu to feature hamburgers, fries and sandwiches.

"Basically we'll be 092607shoppes onmainelampsjkserving bar food, but we'll also do some unique stuff like shrimp boil specials and broasted chicken," he said. "We just want to make it a fun place where people can sit down, have a beer, good food and shoot the breeze."

092607galaxycinejk Inside it will seat about 125 to 130 people and another 65 to 70 on a large patio that has a fire pit and outdoor bar.

"With that pond and waterfall out there, it is just a heck of a nice atmosphere," Henderson said.

Why the name?

"Everybody has always called me Willy," he said with a chuckle. "

And, well, I'm not the slimmest guy in the world."

Fat Willy's is also an homage to the classic 1941 Willys Coupe, known for its wide rear end. Henderson estimates that he'll have about 15 on staff.

January 07, 2010

Minnesota med equipment co. moves into Roch.

When you deal in medical equipment in Minnesota, Rochester is obviously a pretty healthy market.

10767-1 And the high demand for things such as oxygen tanks, walkers, lift chairs and everything else classified as durable medical equipment is what attracted a family-owned Bloomington, Minn.-based company to the Med City.

Corner Medical, owned and operated by the Neumann family, is opening a showroom and store in the Miracle Mile Shopping Center, in the former MDC Sports space.

“It is a good opportunity for growth for us,” says Jesse Neumann. Corner Medical deals in “everything you need for home health care,” he says.

He hopes to open the doors later this month with three on staff to start. “But we hope to grow it fairly rapidly,” he says.

This will be the sixth location in Minnesota; another is in Red Wing.

Besides Rochester being a good market for medical goods, Corner Medical also has a more emotional reason for being interested in the city.

“This is where it all started,” Neumann says. His father and company founder, Al Neumann, was trained as a respiratory therapist here.

And that expertise brought him into the home medical care business.

September 22, 2009

Stress incontinence = $?

Rochester Medical Corp. is looking to start 2010 by launching a major play for the female stress incontinence market in both the U.S. and the U.K.


“The market potential for this is bigger than any of our other products,” said Anthony Conway, CEO of the Stewartville catheter maker, after announcing that its FemSoft Insert has been approved by in the United Kingdon as a prescription product.


3352_e10_ROCM_1041

It is a soft silicone insert with a fluid-filled bulb at the end to conform inside the patient to block leakage.


This follows U.S. Medicare’s preliminary reimbursement approval for the FemSoft Insert earlier this year.


If all goes as expected, both the U.S. and the U.K. will begin reimbursing for the product in January 2010.


“The market potential for this is bigger than any of our other products,” says Conway.

It is estimated that more than 12 million women are diagnosed with stress incontinence in the U.S. This condition can cause urinary leakage occurs during certain physical activities such as exercise, coughing, laughing, or sneezing.


Conway believes FemSoft could used by about five percent of that group, which tallies to about an estimated $1 billion piece of the market.


While being OKed for Medicare reimbursement spotlights FemSoft, it has been used for years by women paying the full cost for the product. The Federal Drug Administration approved it after a five year, eight clinical site study.


August 12, 2009

Another pet waste clean-up biz with a clever name?


Pooper-scooper-barbie-doll Remember the sensation Turd Herders created when appeared on the Rochester backyard scene to pick up a chunk of the pet waste clean-up market?

The biz name itself brought a pack of attention top the small business. 

And now, it appears, similar operation is being extruded into the Med City market:

Doody Callz

Yep.

Doody Callz.

I should have more on this down and dirty biz as soon as I can speak with the operator/ owner.

December 19, 2008

Roch. Med. releases new line of catheters

 Stewartville's (and mine for that matter) favorite silicon catheter maker announced a whole new line of catheter products.

I'll try to write more on this soon, but here some from the press release:

Rochester Medical Corporation announced the introduction of Magic3, its new line of intermittent urinary catheters. Featuring advanced and proprietary m3 technology, Magic3 catheters are the first intermittent catheters created and crafted from a composition of three distinct functional layers. Each of the three all-silicone laminates is uniquely formulated to independently address a particular product attribute required for comfortable, easy, and reliable intermittent catheterization. This means no trade-offs or compromises for the people that depend on intermittent catheters to help them live a healthy, active life.

Commenting on the new Magic3 catheter, Rochester Medical's CEO and President Anthony J. Conway said, "This is a great new product family. The design and construction of an intermittent catheter can fundamentally impact the user's quality of life. Manufacturers have done their best to address issues of comfort and convenience, but until the invention of Magic3 choosing among various products has involved difficult trade-offs.

"Traditional single-layer catheters that are rigid enough for ease of handling can be painful to use and can damage sensitive urethral tissue. Those that are softer and less likely to abrade tissue can be difficult to handle. Also, some catheters are subject to kinks that can impede drainage flow. We believe no single-layer design has been able to fully address each of these critical issues."

"The technology and timing of our Magic3 introduction offers a unique opportunity for the Company and our customers "Reimbursement changes have heightened the attention being given to best intermittent catheter practices for each user. The assessments being made every day by clinicians, patients, and distributors now include a brand new choice for uncompromised excellence in catheter performance," commented Jim Carper, Rochester Medical's Vice President of Marketing.